The price on UAE real estate market are rising slowly after 2 years of a boost. But large groups of tenement are still constructed in the country including rich villas-
to cheap residential projects. So obviously this sphere is still flourishing
The main tenant builders are aimed on the sphere of residential housing due to a high
demand on such objects in the emirate which still grows, in particular, in the cheap dwelling sphere. Standard & Poor predicts that this year the tenement cost will be changed a bit (by 10-20%).
We witnessed some changes to the market. They are expected to continue during the following years boosted by 2021 plans for Dubai. The market shows an on-going growth, but tenant builders still implement new construction programs.
- Serenia by Palma: The first real estate object located on the Palm Jumeirah Crescent waterfront. It’s intended exclusively for residential use and will cost 408m dollars. The neighborhood will be fenced and its residents will get an opportunity to enjoy the landscape on the Tower of the Arabs and Dubai Seaside . The luxury object covers a 7896 m2 area and consists of 250 flats in 3 blocks. It was opened in December 2017.
- Town Square by Nshama: Constructed in New Dubai not far from Al Barsha. It meets the current call for a cheaper housing property. This neighborhood will include more than 3,000 detached houses and 18,000 blocks of flats. The facility offers estates with 3 or four bedrooms and tower-blocks with 1, 2 and 3-bedroom flats. The construction has begun in 2014; the site comprises a 31m ft2 area. It is planned to continue it for ten years providing that annually 3,000 units will appear.
- Sustainable City by Diamond Developers: The first eco-friendly city in the region accommodated with all services. It includes 5 communities with 100 luxury estates each, a local trade center, a green area in the downtown, a dressage center, race, cycling, walking and athletic tracks so as other full-fledged amenities. The project was finalized in 2016 with a budget of 326m dollars. It covers a 500,000 m2 area.
- Sobha Hartland: A multi-purpose project by Sobha LLC, a tenant builder from Dubai. Its budget comprises 4 billion dollars and it covers an area of 740,575 m2. It was built 3 km from Burj Khalifa in Mohammed bin Rashid City With 74.3m m2. The project includes 8 block of flats, 2 schools, 3 hotels and 280 estates.
- Novel Hotel Villas at Akoya Oxygen by Damac Properties: a 3-bedroom house will cost 477,463 dollars there. Residences with 6 bedrooms will also be available. 250 estates are equipped with a sun-powered water heater, private yards, a library, kitchen with full accommodation and an acoustic system. Also estates will be constructed near the Trump World Golf Club by Tiger Woods.